Savannah Chamber

29 Savannah Area Chamber of Commerce 2016 Economic Trends 9 Employment & Wages From 2013 to 2014, the average weekly wage in the Savannah MSA increased 3.4%. Across all industries in the region, employees earned $813 per week. In the Savannah metro area in 2014, weekly wages were $112 lower than those statewide. The percentage gap between wages in Savannah and the state declined from 14.4% in 2013 to 13.8% in 2014. In four sectors of the regional economy (manufacturing, education services, state government, and local government) average weekly wages in the region exceeded average weekly pay for the state. Weekly pay in other sectors was near or below the state average. In 2014, wage growth in the Savannah MSA outpaced statewide wage growth, 3.4% to 2.8%. While wages in Savannah remain below the state average, the purchasing power of those wages is enhanced due to the relatively low cost of living and housing in the region. This, combined with Savannah's high quality of life, implies that workers and employers continue to receive a high return on value for area wages. Total employment in the Savannah MSA increased 2.5% from 151,787 in 2013 to 155,607 in 2014. On a net basis, the area added 225 establishments across all industries, a gain of 2.4%. The Information sector experienced a sharp increase in employment (28.6%), while establishments in the Finance and Insurance sector greatly increased by 13.4%. Arts, Entertainment, and Recreation, and Utilities added 5.7% and 5.6% to total establishments, respectively. Manufacturing increased employment by 7.3% and Accommodation and Food Services employed 7% more workers than in the previous year. Employment & Earnings Yearly Average, 2014 Average Weekly Wages Savannah MSA Industry Savannah MSA Georgia Employment Number of Establishments Construction $860 $977 5,545 762 Manufacturing $1,570 $1,061 15,930 253 Wholesale Trade $1,152 $1,386 5,496 473 Retail Trade $507 $531 19,585 1,415 Transportation and Warehousing $794 $1,070 9,444 465 Utilities $1,533 $1,602 478 19 Information $761 $1,665 1,717 116 Finance and Insurance $1,138 $1,566 3,857 658 Real Estate and Rental and Leasing $679 $1,004 1,880 422 Professional, Scientific/Tech Services $1,047 $1,489 4,914 929 Education Services $1,006 $950 3,375 74 Health Care and Social Assistance $893 $902 19,330 856 Arts, Entertainment and Recreation $452 $639 2,028 130 Accommodation and Food Services $328 $335 21,729 1,061 Other Services (except Public Admin.) $585 $626 4,821 741 Government – Federal $1,322 $1,365 2,783 87 Government – State $930 $826 5,025 80 Government – Local $771 $714 14,183 57 ALL INDUSTRIES $813 $925 155,607 9,771 Source: Georgia Department of Labor, Workforce Information and Analysis, Georgia Employment and Wages, 2014 Averages. Retrieved at www.dol.state.ga.us on 10/20/2015.

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